Banking

Fast, reliable, and easy transactability powers modern commerce, allowing businesses to adapt quickly to rapidly-changing market and economic conditions. To ensure the banking sector doesn't limit the Canadian economy's ability to compete globally, we must ensure our banking system continues to be at the forefront.

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Related Policies found:

Bank Surtax

Priority:

Short-Term

The RPC will add a 10% surtax on commercial bank profits. Credit unions, caisses populaires, and co-ops meeting strict requirements of customer profit sharing will be exempt from this surtax.

Commitment to Cash

Priority:

Medium-Term

The RPC will commit Canada to maintain a physical cash currency for at least the next 20 years and until we can ensure the privacy of citizens and security of vulnerable individuals and groups in a fully-digital currency society.

Dark Pools

Priority:

Immediate

The RPC would immediately prohibit all Canadian financial organizations from creating or operating dark pools and would require Canadians with investments in foreign dark pools to register them with the CRA.

Deprivatization of Interac

Priority:

Short-Term

The RPC will legislate the deprivatization of Interac to ensure Canadians have the ability to move their money freely without private taxation by the "Big 5" banking oligopoly[1].

Predatory Banking Fees

Priority:

Short-Term

The RPC will abolish predatory banking fees, starting with entirely banning non-sufficient funds (NSF) fees at all banks in all situations.

Public Banking Option

Priority:

Medium-Term

The RPC will establish a public banking organization, called the Canadian National Credit Union, to compete fairly with our strong private banking institutions.

Rural Banking

Priority:

Medium-Term

The RPC will develop a plan to ensure rural communities have equitable access to personal and commercial banking services as is available to people and businesses in large urban centres.

Banking

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